Legal Question in Business Law in Maryland

Your question likely requires a more in-depth review of the facts than an online bulletin board can provide. Whether or not the other owner's actions adversely impacts his rights to the company profits depends on a number of factors. At a minimum an attorney would want to know what type of entity you have (sometimes people refer to business "partners" although the entity is something other than a partnership), what contractual arrangements you had between each other and/or between you and the entity, facts surrounding your capital accounts, whether the entity employed either owner and in what capacity, the nature of the "layoff," etc. You might want to ask an attorney to review the details of your situation as soon as possible.

The other attorney is right on point here. If you have a partnership, how does the partnership agreement address these issues? That is the starting point. Consult with a good business attorney in your area for specific advice.

Kevin B. Murphy, B.S., M.B.A., J.D. - Mr. Franchise

Franchise Attorney